Editors Note: Terence Mauri is a very insightful Start Up Mentor and coach enabling entrepreneurs around the world to achieve their full potential.
Checkout Joel Brown’s podcast Interview with Terence as he reveals his awesome and effective ways for Startup entrepreneurs to achieve success.
Terence’s Reading Recommendations
‘Fast learners win’. Eric Schmidt, Google
What does it take to launch a start-up? Are you ready and focused to seize opportunities and move yourself forward quickly?
I wrote this piece to answer these questions and help you thrive as a start-up not tomorrow, or next year but today. Read it, share it and use it for inspiring action in yourself and others. As Steve Jobs said, ‘we’re here to make a dent in the universe. Otherwise why else even be here’.
As a coach and start-up mentor, I’ve had privileged access to many boardrooms, meeting rooms and conferences around the world from London and Stockholm to Dubai and California. This has given me a unique insight into the hidden qualities of the start-up mindset. These individuals, no matter what part of the world they are in display a passionate curiosity about the future and a desire to make things happen – fast. They have clear purpose and are highly adept at managing themselves, especially under pressure. They show bravery and are not afraid of failure or saying no.
Most telling of all, they have a burning desire to grow as human beings and achieve full potential – in everyone.
Here’s the surprising truth. It’s often easier to make something 10 times better than it is to make it 10 percent better.Google bosses Larry Page and Sergey Brin exemplify this by inspiring their team to look for ten-fold improvements – a technique they call ’10X thinking. Imagine the power of using ‘10X’ to multiply gains for your own start-up. It’s time to think different.
Let’s play a quick game.
Why are the numbers 480, 168 and 960 significant? 480 is the number of minutes in an 8 hour day. Not much when you consider the avalanche of emails, meetings, interruptions and constant battle for attention. 168 is the number of hours in a week. According to one global survey by Accenture on productivity, over 80% of respondents agreed with the statement that ‘they often felt there weren’t enough minutes in the day to achieve everything’.
In Japan, this chronically stressed and un-focused state is known as Karoshi – death at your desk from stress. We are literally running as fast as we can and yet there is a missing link somewhere. Known as the ‘smart trap’, what we know is simply not translating into action. It’s time to start thinking like a start-up.
This leads to the final number – 960 which is the number of months a healthy human being can hope to live for in some parts of the world. If you’re reading this you’re probably one of them. Put another way, it’s about 80 years of age.
Remember, we sleep for around 300 months. Whilst I don’t wish to depress you, the bottom line is if we’re lucky we have around 700 months to make it happen. Have I got your attention? Good.
Building a start-up is not easy. Like modern day explorers ascending K2 or reaching the North Pole, it demands what the Finish call ‘sisu’ – an amalgam of resilience, courage and fierce tenacity. It takes ‘sisu’ to stand at the door when a big angry bear is on the other side. That bear is your competition, a fear of failure or lack of focus on what really matters. I recently met the founder of a fledgling start-up who exemplified this ‘sisu’ spirit. He stated, ’I believe the ability to step up and deal with failure in a fast changing world is a must-have for realising your dreams and potential’.
Look around you. We’re living in exceptional times. Everyone must grapple with not just change but the speed of change.
Whats App, the messenger service captures this super trend. Founded in 2008 by co-founders Jan Koum and Brian Acton, it was recently acquired by Facebook for $19 billion and yet only has 55 staff. To put that in perspective Sony has over 165000 staff and a market cap of $18bn. Airbnb, (Airbed and Breakfast) the online marketplace for spare rooms is another example of the velocity at which small becomes big. More than 10 million people have stayed in Airbnb homes since it launched in 2008 and it is already valued at over $1 billion – the type of growth entrepreneurs and VC’s drool over.
In 2014, Airbnb is widely expected to overtake the InterContinental Hotels Group and Hilton Worldwide as the world’s largest hotel chain—without owning a single hotel.
For many, individuals and organisations alike we’re living in a perpetual state of beta. Take home message – you must learn faster, fail smarter and risk braver – today.
We live in a VUCA world. This stands for volatility, uncertainty, complexity and ambiguity. It presents tremendous risk but also unprecedented opportunity for any new start-up.
I’ve identified 5 hacks or what I call ‘smart cuts’. These are practical actions to accelerate growth and give you the edge.
Hack 1 – Start with focus!
It’s time to focus on focus. Remember – when you say yes to something you say no to something else. Decide what really matters then ring fence and put it to work. Travis Kalanick, Uber CEO says ‘I want to do one thing only and do it really well’.
I recommend the ‘1-3-5’ system. Start with 1 which represents the single most important priority of the day. Only after completing 1 should you move to the next 3. These are the next most important priorities. Finally move the last 5. This simple tool can help you stayed focused on what really matters.
Hack 2 – Grow your posse!
We are hard wired to connect. The world’s first Professor of networking at Cass Business School, Julia Hobshawm says ‘networking is a must-have skill to not just survive but thrive today’.
Networks should be both broad and deep. They can give your start-up access to ideas, opportunities, funding, support that otherwise you would not have access to. Find a mentor. Start up a learning circle. Attend a start-up conference.
The key is to have plan for knowledge networking. Check out www.leanin.org.
Hack 3 – Eat problems for breakfast.
Steve jobs was a master at using the power of constraints to force new ways of thinking. It means seize limitations and then transcend them.
Most of the magic happens just outside our comfort zone. This requires courage but also the ability to conquer fear and embrace failure as one half of success.
Focus on possibilities not problems.
Hack 4 – Learn faster.
Read up. Build your own heroes network of people you admire in business and life. Success leaves clues. Check out a new TED talk (www.ted.com).
Have a curiosity for new experiences and never stop learning. This hack is about cultivating a life-long commitment to learning. It will also help you anticipate what’s ahead on the curve that no one else has seen.Opportunity!
www.getabstract.com is an excellent learning hub.
Hack 5 – Make it happen.
Ultimately the distance between talk and results is action. Hack 5 is about speed and what I call a high ‘say do’ attitude. This means you turn talk into action – quickly.
My formula for start-up success is simple. Decide what’s important, prioritise it, protect it and execute quickly.
To sum up, thinking like a start-up is the number one hidden driver of success. In the age of digital distractions, it’s all too easy to lose focus.
Are you ready to step up?
How To Relentlessly Live In Your Potential – Ben Kelly
Millionaire Entrepreneur, Speaker, Trainer and Investor Ben Kelly shares his principles with you for Rapid Transformation.
Ben Kelly was a financially crippled bricklayer with large debt along with a debilitating mindset and low self worth as he struggled for purpose with a feeling of very little hope of a better life.
However, Ben managed to turn that around in 2 short years through a strong desire to learn, grow and apply all that he learned in facing his fears and identity attachments that held him back.
Ben leads a movement of thousands around the world, speaking to large groups throughout Australia, the US, the UK and Asia sharing the lessons he has learned and the process that helped him to go from a depressed bricklayer unable to voice himself to being able to confidently speak to thousands on how life can change in a moment with a strong growth mindset and a willingness to leave behind what is not in service to your greater self.
His successful network marketing business has allowed him, along with his sister Peta to retire their single mother of four “Christine” and alleviate all of her financial burden. Ben loves travelling the world to lead people to their own empowerment, growth and expansion so they can step into greater expressed versions of themselves.
Click Play below to listen to the podcast episode with Ben Kelly.
6 Ways to Expand Your Consciousness for More Success – Garrain Jones
Garrain Jones is a powerful transformational leader and speaker who has broken through barriers most would see as impossible.
Every industry he has stepped into he has achieved a high level of success and he continues to expand his network into the millions and networth into the multiple millions because he continues to challenge the way he looks at his potential and his life. He loves teaching others how they can do this too.
In this podcast episode Garrain shares 6 interesting ways to expand your consciousness so you can achieve more success. He also shares a powerful exercise to create clarity and power in your life, this episode is not to be missed.
Click Play below to listen to the podcast episode with Garrain Jones.
How to Share Your Vision and Ideas With The Super Wealthy – Kevin Harrington
Kevin Harrington is an American entrepreneur and business executive. Harrington is the founder of “As Seen On TV”. Kevin has appeared on the television series Shark Tank and has launched over 500 products resulting in more than $5 Billion in sales worldwide.
Listen to this Addicted2Success episode to find out how you can share your vision in the most effective way
5 Habits Of Radically Authentic Leaders – Malaine Lea
New Jersey’s very own Women’s Lifestyle Architect and 6 Figure Transformational coach “Malaine Lea” shares the habits of Radically Authentic, Highly Impactful and Incredibly Intentional Leaders.
As a Lifestyle Architect Malaine Lea loves supporting you in redefining and designing who you really are from the inside out.
Click Play below to listen to the podcast episode with Malaine Lea.
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